Both and mean smell with the same reading, but the latter has a negative connotation (stinky). can also be and means smelly as an adjective. It should be obvious from context which reading to use.
LostForest posted...
What about comparing tastes and smells? Like I was asking before, does anyone know if you can use for stuff besides appearances? Or does it literally mean "looks like"?
You definitely use it for other things that are similar. If someone has a similar personality or idea or abstract things like that you can still use it. If you want one that is more strictly for appearance use which often gets translated as "like two peas in a pod", but is actually limited to appearance for the most part, not other similarities.